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Stellus Capital enters $140M revolving credit agreement

Stellus Capital Investment Corp. has entered into a senior secured revolving credit agreement for borrowings up to a total of $140.0 million on a committed basis. An accordion feature allows the company to increase the aggregate commitments up to $195.0 million.

Borrowings bear interest on a per annum basis equal to either LIBOR plus 2.50%, or 1.50% plus an alternate base rate based on the highest prime rate, federal fund rates plus 0.5% or one-month LIBOR plus 1.0%. The interest will be payable in arrears every quarter.

The lenders included in the agreement are Amegy Bank, Cadence Bank NA, Frost Bank, Stifel Bank and Trust, Texas Capital Bank NA, CommunityBank of Texas NA, Woodforest NA and Whitney Bank.

As part of entering the new credit agreement on Oct. 11, the company also terminated its senior secured revolving credit facility with SunTrust Bank.